Wednesday, February 2, 2011

US court jails, fines PIO $43m for fraud

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BOSTON: An Indian-American doctor has been sentenced to 15 years in prison by a US court for committing healthcare fraud with his wife and has been ordered to forfeit over $43 million in cash and property gained through the fraud.

Arun Sharma, 56, conspired with his wife Kiran Sharma and committed a healthcare fraud over a 10-year-period in Texas, attorney Jose Angel Moreno said on Wednesday.

Handing down the sentence, US district judge David Hittner ordered Sharma to forfeit over $43 million, including the couple's $700,000 home in Texas, more than $700,000 in cash found during a search of their home, over $800,000 in safe deposit boxes and a number of investments funded with proceeds of the fraudulent scheme.
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